Salt Lake County YEAR-END 2010 MARKET REVIEW

Size: px
Start display at page:

Download "Salt Lake County YEAR-END 2010 MARKET REVIEW"

Transcription

1 trends Market Indicators During the second half of there was a continued softening of asking lease rates reflecting the general weakness of the retail leasing market. Most notable was the significant drop in asking rates for large regional centers where rates have traditionally been the highest. With this drop in lease rates, smaller, more local, tenants have in some cases been able to move up into this class of project where previously they had been priced out. Tenant improvement allowances through landlord cash outlays remain difficult for tenants to obtain. The challenging economic environment has led landlords to offer improvement allowances more through rent abatement incentives than cash outlays. There has been a shift in economic exposure for primarily local and regional tenants that have been active during the second half of the year. This tactic is yet another challenge to getting deals done, as sources of capital to make improvements are not easily found by tenants. Deal activity and market velocity appear to have bottomed during third quarter and now show definite signs of stronger activity. We are cautiously hopeful that this Retail market overview - Fourth Quarter Change since: Current Q4 09 Q2 10 Retail Vacancy 9.08% p q Average Market Lease Rate $17.42 PSF q q Completed Construction 299,157 SF p p Arrows are indicators, arrows do not represent a positive or negative value. is the bellwether of a trend to more normalized market activity, stronger tenant performance, pressure for rate stability, and restoration of underlying asset values. Grocery was one of the more dynamic segments of the retail market along the Wasatch Front with mixed results. On the downside, Associated Foods closed two of the Salt Lake County Albertsons/Fresh Market stores purchased in mid- (a total of six closures by Associated throughout the state of Utah as of press time). On the upside, Walmart continues to move forward in developing its Parley s Way Store and Harmons has broken ground on two new stores (City Creek in downtown Salt Lake and Station Park in Farmington) and has committed to open a new small concept in the former Emigration Market. Further, WinCo has been a strong factor along the Wasatch Front, opening multiple Retail Sector Market SF* with malls Vacant SF with malls* Vacancy with malls* Market SF w/o malls Vacant SF w/o malls** Vacancy w/o malls** Absorption** Northeast 4,978, , % 4,685, , % 80,129 Central East 6,096, , % 4,991, , % 33,958 Southeast 9,528,489 1,078, % 8,259,803 1,054, % 25,026 Northwest 876,650 89, % 876,650 89, % -40,313 Central West 7,191, , % 6,508, , % -105,823 Southwest 8,680, , % 8,680, , % 55,246 Total by Sector 37,352,228 3,391, % 34,002,522 2,984, % 48,223 Retail Type Regional Mall 3,349, , % ,478 Regional Center 6,735, , % 6,735, , % -18,585 Community Center 15,315,205 1,164, % 15,315,205 1,164, % 74,823 Neighborhood Center 7,508, , % 7,508, , % 32,945 Anchorless Center 4,443, , % 4,443, , % 64,518 Total by Type 37,352,228 3,391, % 34,002,522 2,984, % 48,223 *Refers only to shopping center or multi-tenant developments over 10,000 square feet. ** Absorption includes regional malls.

2 stores in, but is rumored to be slowing their future expansion. Finally, specialty grocer Sunflower Market, building on their performance, has announced two new locations in the Salt Lake Valley. The much anticipated Whole Foods relocation to Trolley Square is also imminent. After years of steady expansion, this segment may have reached a saturation point with activity being more cannibalistic than opportunistic. Competition is fierce in the grocery segment where concept and operations are now more critical than ever. Although the economy made small steps toward improving, people continued to stay closer to home this past year, patronizing local craft and hobby stores, discount retailers, local dining and entertainment venues. Craft stores like Joann s and Hobby Lobby are reportedly doing very well and continue to expand in the market while discount stores such as Shoe Carnival, TJ Maxx, Kohl s, Maurice s, Ross Dress for Less, Rue 21 and Beales all appeared to benefit from the soft economy and this trend. The second half of also saw very strong attendance at movie theatres and continued expansion of local eateries, especially value oriented establishments. Retail market Lease Rates & Construction Retail Sector Lease Rates New Construction SF Northeast $ ,716 Central East $ Southeast $ Northwest $ Central West $ ,069 Southwest $ ,372 Total by Sector $ ,157 Retail Type Mall - 137,982 Regional Center $ ,372 Community Center $ ,803 Neighborhood Center $ Anchorless Center $ Total by Type $ ,157 Due to the challenge of tracking actual signed lease rates with any comparative value, Commerce tracks and reports rates based on a weighted average of the high asking rate. Vacancy By Type Five Year History 25% 20% 15% 10% 5% 0% Regional Mall 1.07% 0.61% 5.60% 5.08% 12.14% Regional Center 3.89% 4.64% 7.00% 8.12% 8.49% Community Center 7.81% 5.81% 7.74% 7.55% 7.60% Neighborhood Center 9.97% 8.08% 7.66% 9.18% 8.71% Anchorless Center 15.32% 12.19% 15.32% 13.64% 13.39% Total by Type 7.79% 6.39% 8.31% 8.29% 9.08%

3 The most significant development in the mall segment of the market continues to be the development of the much anticipated City Creek Center by the LDS Church. Slated for a 2012 opening, specifics are difficult to come by, but by all accounts interest is strong and this significant development will no doubt have an impact on the overall mall segment in the market. Regional malls in the market saw significant changes in Salt Lake County in. Fashion Place Mall underwent a complete transformation with a complete interior remodel and the construction of a new building for Nordstrom. The former Nordstrom space will now be home to Crate & Barrel. Sephora is another tenant to enter the Salt Lake Market through Fashion Place s remodeling efforts. Trolley Square and Valley Fair Mall also underwent sizable expansions and remodels. Valley Fair Mall continued re-positioning its presence in the market through the addition of non-traditional mall tenants such as Ross Dress for Less, Petco and a number of fast food and fast casual restaurants. Lastly, after some delay, Trolley Square completed its expansion/ remodel in, with the new Whole Foods building being the largest new component of the project. Whole Foods is slated to open in early This project also encompasses a sizable amount of spec built retail square footage. By all accounts, The Gateway and South Towne malls remain strong with virtually no vacancy in either. The future of the former Cottonwood Mall site remains uncertain. While General Growth Properties emerged from bankruptcy, this property along with a number of others owned was sold to a new spin off entity, The Howard Hughes Corporation. It is not clear what the plans are for the iconic property at this point, but it is hoped that this new entity will be in a position to move forward sooner rather than later. forecast Although lease rates saw further softening in the second half of, they are expected to stabilize in 2011 and possibly see some strengthening as the general economy continues to improve. Hints of inflation may contribute to this upward pressure. There is little anticipation of a pick-up in new construction in 2011, and do not see any appetite for speculative development. One exception may be the Sugar House area. The new Whole Foods store, which will open in early 2011, should provide a boost to Trolley Square. However, with the significant amount of vacancy in the original Trolley structure, as well as the new space available from the additional square footage added, there will be downward pressure on existing lease rates to get vacancy absorbed. During 2011, there should be a better vision of tenancy and impact on the market arising out of the City Creek project. While the restaurant sector has fared well, the state s restrictive liquor laws will continue to hinder new entities and additional expansion in the market. Although the legislature made some effort to bring Utah into a more mainstream position, a new law passed last year requiring restaurants to prepare drinks out of sight of customers is keeping several national restaurant chains out of the market. This is due to the additional costs associated with having to custom design their prototypical layouts to conform to the law. This, combined with the serious shortage of liquor licenses affecting local and national operations alike, will have a chilling impact on this otherwise healthy segment of the market. In and, Hollywood Video exited the market, leaving thousands of empty square feet behind. In 2011, we expect to see yet another major home video player, Blockbuster, significantly reduce its presence as it emerges from bankruptcy. As part of Blockbuster s restructuring plan, the company will move away from its brick-and-mortar model to more kiosks. Executives have vowed to slash the number of retails stores in half nationwide from 3,000 to 1,500. Although we do not know exactly how many Utah locations will close, considering Blockbuster currently occupies over 300,000 square feet of retail space in Utah, it will have an impact on the local market.

4 Spooked by excessive non-performing loans and outright default/foreclosures, lenders have started playing a much bigger role in dictating lease terms, including co-tenancy provisions, kick-out clauses, and even lease length and commission terms. This added input from a new player will definitely have an impact on many of the settled provisions, particularly co-tenancy. Tenants with the upper hand, due to market conditions that have not created sufficient pressure for them to be aggressive, may be motivation to accept terms mandated by lenders, from the improving market and the Wall Street pressure for new stores. Anticipate a greater number of transactions in Improved phone traffic, increased transaction counts for other market segments, and a robust holiday shopping season, all point to an improved Problem projects and loans are still a large factor in the market, but was a time to get used to them and formulate solutions while 2011 should be a year of more action to actually convert them to productivity. Vacancy By Sector Five Year History 25% 20% 15% 10% 5% 0% Northeast 5.93% 2.86% 5.82% 7.39% 9.77% Central East 10.63% 8.49% 8.63% 7.18% 6.62% Southeast 9.49% 8.55% 10.47% 11.08% 11.31% Northwest 7.41% 2.37% 10.20% 5.65% 10.25% Central West 5.72% 6.08% 7.41% 8.60% 11.13% Southwest 6.55% 5.06% 7.64% 6.53% 6.14% Total by Sector 7.79% 6.39% 8.31% 8.29% 9.08%

5 Weighted Average Lease Rates by Type Five Year History $35 $30 $25 $20 $15 $10 $5 $0 Regional Center $26.75 $30.94 $30.32 $29.41 $22.19 Community Center $19.41 $21.21 $19.83 $19.07 $16.22 Neighborhood Center $16.59 $16.57 $16.61 $13.32 $15.14 Anchorless Center $15.71 $14.69 $20.38 $19.63 $17.35 Total by Type $17.72 $21.32 $20.95 $20.16 $17.42 Weighted Average Lease Rates by Sector Five Year History $30 $25 $20 $15 $10 $5 $0 Northeast $19.47 $23.34 $21.36 $21.69 $21.52 Central East $16.54 $18.63 $20.42 $18.90 $18.99 Southeast $18.21 $22.27 $20.57 $18.58 $16.39 Northwest $14.06 $13.27 $13.18 $13.65 $15.25 Central West $15.86 $19.25 $20.77 $19.81 $16.74 Southwest $19.15 $23.05 $22.57 $24.50 $17.42 Total by Sector $17.72 $21.32 $20.95 $20.16 $17.42

Office Market Activity Report

Office Market Activity Report Q2 2010 Office Market Activity Report Salt Lake County Second Quarter 2010 Office Market Overview - Q2 2010 Change since: Current Q1 10 Q4 09 Direct Office Vacancy 15.97% Sublease Vacancy 1.49% Average

More information

Monthly Market Snapshot

Monthly Market Snapshot SEPTEMBER 2018 Vacancy continues to fall. Nearing the end of the third quarter, the vacancy rate dropped 10 basis points to 6.4%, compared to this time last month at 6.5%. Occupancy of the 1.1 million

More information

SOUTHWEST CORNER OF CAPITOL DRIVE & 124TH STREET BROOKFIELD (SUBURBAN MILWAUKEE), WISCONSIN

SOUTHWEST CORNER OF CAPITOL DRIVE & 124TH STREET BROOKFIELD (SUBURBAN MILWAUKEE), WISCONSIN SOUTHWEST CORNER OF CAPITOL DRIVE & 124TH STREET BROOKFIELD (SUBURBAN MILWAUKEE), WISCONSIN INVESTMENT HIGHLIGHTS S U B J E C T O F F E R I N G Mid-America Real Estate Corporation, in cooperation with

More information

NAI REOC San Antonio San Antonio Retail Market I Third Quarter 2011

NAI REOC San Antonio San Antonio Retail Market I Third Quarter 2011 MEDIA RELEASE Contact: Kim Gatley Senior Vice President & Director of Research NAI REOC San Antonio P 210 524 4000 I F 210 524 4029 kgatley@naireocsanantonio.com www.naireocsanantonioblog.com SAN ANTONIO

More information

RETAIL MARKET ANALYSIS

RETAIL MARKET ANALYSIS RETAIL MARKET ANALYSIS Portland State University Despite the doom and gloom warnings of a retail apocalypse, the national story for retail is that things are stable. Nationwide vacancy is at 5.2 percent

More information

Office Market Continues to Improve

Office Market Continues to Improve Research & Forecast Report LAS VEGAS OFFICE Q3 2016 Office Market Continues to Improve > > Southern Nevada s office market is improving at a steady rate > > Net absorption has been positive in twelve of

More information

Good Year, Poor Quarter

Good Year, Poor Quarter Q4 2013 RETAIL LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Good Year, Poor Quarter After nine quarters of positive net absorption, Southern Nevada s retail market fell into negative net absorption territory

More information

Retail. 4 th QUARTER REPORT 2010

Retail. 4 th QUARTER REPORT 2010 Retail 4 th QUARTER REPORT 2010 At A Glance Vacancy rates remain stable - Overall vacancy rates showed a slight increase during the quarter to 13.09%. This is a 0.10% rise from 3rd quarter 2010 and a raise

More information

Office Stays Positive

Office Stays Positive Q2 2014 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Office Stays Positive While it may not always be pretty, Southern Nevada s office market continues to improve. Net absorption increased in the

More information

Chicago s industrial market thrives during the second quarter.

Chicago s industrial market thrives during the second quarter. Economic Overview CHICAGO INDUSTRIAL MARKET MONITOR SECOND QUARTER 2015 Chicago s industrial market thrives during the second quarter. Demand across the Chicago industrial market remains high sending absorption

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE INDIANAPOLIS OFFICE Economic Indicators Q2 17 Q2 18 MSA Employment 1.1M 1.1M MSA Unemployment 3.3% 3.0% U.S. Unemployment 4.3% 3. Market Indicators (Direct, All Classes) Q2 17 Q2 18 Total Market Vacancy

More information

OFFICE MARKET ANALYSIS:

OFFICE MARKET ANALYSIS: OFFICE MARKET ANALYSIS: DAVID WEST RMLS Fellow Certificate of Real Estate Development Student Masters of Urban and Regional Planning Candidate While the Portland office market continues the slow recovery

More information

Vacancy Inches Higher, Despite Continued Absorption

Vacancy Inches Higher, Despite Continued Absorption Research & Forecast Report GREATER PHOENIX OFFICE 1Q 2017 Vacancy Inches Higher, Despite Continued Absorption Key Takeaways > > Improving conditions in the Greater Phoenix office market took a pause in

More information

Economic Overview DENVER INDUSTRIAL/FLEX MARKET MONITOR FIRST QUARTER Denver s industrial flex market vibrant during the first quarter.

Economic Overview DENVER INDUSTRIAL/FLEX MARKET MONITOR FIRST QUARTER Denver s industrial flex market vibrant during the first quarter. Economic Overview DENVER INDUSTRIAL/FLEX MARKET MONITOR FIRST QUARTER 2015 Denver s industrial flex market vibrant during the first quarter. The Denver industrial market has record high asking rental rates,

More information

NAI FMA Realty Market Report First Half 2009 Lincoln, Nebraska

NAI FMA Realty Market Report First Half 2009 Lincoln, Nebraska Lincoln, Nebraska First Half 2009 Office TRENDS Vacancy Rate Asking Rents OFFICE OVERVIEW As the national economy continued to contract during the first six months of the 2009, Lincoln followed the trend.

More information

Winnipeg Market Report

Winnipeg Market Report Winnipeg Market Report Commercial Land Values Continue to Rise By Aaron DeGroot, Stevenson Advisors Winnipeg has long been known for its stable commercial real estate market. In times of national or international

More information

Chicago s industrial market thrives during the third quarter.

Chicago s industrial market thrives during the third quarter. CHICAGO INDUSTRIAL MARKET MONITOR THIRD QUARTER 2015 Chicago s industrial market thrives during the third quarter. Demand across the Chicago industrial market remains high sending absorption up and vacancy

More information

Brokers Forum Report

Brokers Forum Report Brokers Forum Report March 24, 2015 Forecast for April 2015 September 2015 The Center for Real Estate Theory and Practice 1 ASU Commercial Brokers Forum Survey Forecast for April 2015 September 2015 "Without

More information

Las Vegas Valley Executive Summary

Las Vegas Valley Executive Summary ARROYO MARKET SQUARE Las Vegas Valley Executive Summary Retail Market 4th Quarter 2013 THE DISTRICT AT GREEN VALLEY RANCH January 23, 2014 Re: Commercial Real Estate Survey: 4th Quarter, 2013 Dear Reader,

More information

Cycle Monitor Real Estate Market Cycles Third Quarter 2017 Analysis

Cycle Monitor Real Estate Market Cycles Third Quarter 2017 Analysis Cycle Monitor Real Estate Market Cycles Third Quarter 2017 Analysis Real Estate Physical Market Cycle Analysis of Five Property Types in 54 Metropolitan Statistical Areas (MSAs). Income-producing real

More information

Summary. Houston. Dallas. The Take Away

Summary. Houston. Dallas. The Take Away Page Summary The Take Away The first quarter of 2017 was marked by continued optimism through multiple Texas metros as job growth remained positive and any negatives associated with declining oil prices

More information

Time for Retail to Take Stock

Time for Retail to Take Stock Q1 2013 RETAIL LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Time for Retail to Take Stock It is heartening to say, after five years of a bad economy, that the first quarter of 2013 s 119,649 square feet

More information

2011 Baton Rouge Office Market Overview

2011 Baton Rouge Office Market Overview 2011 Baton Rouge Office Market Overview Presented by: Branon W. Pesnell, CCIM, SIOR Beau Box Commerical Gary Black Wampold Companies Jonann Stutzman JTS Management Drew Pearson, CCIM NAI Latter & Blum

More information

RESEARCH & FORECAST REPORT

RESEARCH & FORECAST REPORT Q3 2012 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Office Forges Ahead Southern Nevada s office market continued to post positive net absorption in the third quarter of 2012, despite weak employment

More information

Industrial Insight Report. Calgary & Area Q4 2016

Industrial Insight Report. Calgary & Area Q4 2016 Industrial Insight Report Calgary & Area Q4 2016 Table of Contents Calgary & Area Overview 1 Calgary & Area Map 2 Submarkets Northeast & Balzac 3 Southeast 4 South Central 5 Contacts 6 Pricing Demand Supply

More information

Mueller. Real Estate Market Cycle Monitor Third Quarter 2018 Analysis

Mueller. Real Estate Market Cycle Monitor Third Quarter 2018 Analysis Mueller Real Estate Market Cycle Monitor Third Quarter 2018 Analysis Real Estate Physical Market Cycle Analysis - 5 Property Types - 54 Metropolitan Statistical Areas (MSAs). It appears mid-term elections

More information

MARKETBEAT INDUSTRIAL SNAPSHOT

MARKETBEAT INDUSTRIAL SNAPSHOT 9.1 4.9 7.3 4.5 7. 1.3 8.1 1.3 1.7.3 msf MARKETBEAT INDUSTRIAL SNAPSHOT LAS VEGAS, NV A Cushman & Wakefield Alliance Research Publication Q1 215 ECONOMIC OVERVIEW The U.S. economy continued to add jobs

More information

Industrial Market Closes 2017 on an Upswing

Industrial Market Closes 2017 on an Upswing Research & Forecast Report GREATER PHOENIX INDUSTRIAL Industrial Market Closes on an Upswing Key Takeaways > > The Greater Phoenix industrial market finished off a year of robust tenant demand with a strong

More information

RESEARCH & FORECAST REPORT

RESEARCH & FORECAST REPORT Q2 2012 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Recovery Without Job Growth? Despite office employment still trending downwards, Southern Nevada s office market posted positive net absorption

More information

First Quarter 2017 Industrial Market Report. Chicago. Economic Overview

First Quarter 2017 Industrial Market Report. Chicago. Economic Overview Chicago Market Facts 5.3% Chicago s unemployment rate continued to trend downward. Recorded at 5.3% as of February 2017. 17 MSF The number of completed projects increased to 5.1 msf and projects currently

More information

Retail Market Analysis

Retail Market Analysis Retail Market Analysis Kyle Smith, Regional Multiple List Service [RMLS] Fellow & Certificate of Real Estate Development Graduate Student Retail vacancy increased by 60 basis points to 8.0 percent during

More information

CANADIAN RECOVERY REMAINS FRAGILE

CANADIAN RECOVERY REMAINS FRAGILE Q3 OFFICE COLLIERS INTERNATIONAL MARKET REPORT WATERLOO REGION ONTARIO Waterloo Region Well-Positioned for 11 O QUEBEC Ottawa Waterloo Region Toronto Montré Burlingto CANADIAN RECOVERY REMAINS FRAGILE

More information

Research. New product, high rents CLEVELAND 1Q16 INDUSTRIAL MARKET. Current Conditions

Research. New product, high rents CLEVELAND 1Q16 INDUSTRIAL MARKET. Current Conditions New product, high rents The Greater Cleveland industrial market absorbed 556,046 square feet in the first quarter of 2016, the 14th consecutive quarter of positive tenancy gains for the market. The positive

More information

Softening demand and new supply lifts vacancy

Softening demand and new supply lifts vacancy Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q2 2011 Q3 2011 Q4 2011 Q2 2012 Q3 2012 Q4 2012 Q2 2013 Q3 2013 Q4 2013 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Calgary Office, Q1 2015 Softening

More information

First Quarter Industrial Market Report 2017

First Quarter Industrial Market Report 2017 First Quarter Industrial Market Report 2017 03 04 04 04 05 06 08 09 10 11 13 Executive Summary National Economy Local Economy Oklahoma City Industrial Market Leasing Net Absorption and Inventory Rental

More information

Phoenix Real Estate Outlook. May 2015

Phoenix Real Estate Outlook. May 2015 Phoenix Real Estate Outlook May 2015 General Economy 2 Arizona & US Nonfarm Employment YTY % Change 240,600 jobs lost 208,400 jobs gained (87%) Source: ADOA 3 Arizona Jobs Regained Since Bottom of Cycle

More information

Market Report Q ///////// Los Angeles Industrial. ///////////////L o s A n g e l e s /////////////

Market Report Q ///////// Los Angeles Industrial. ///////////////L o s A n g e l e s ///////////// ///////////////L o s A n g e l e s ///////////// ///////////O r a n g e C o u n t y /////////// ////////////V e n t u r a ///////////////// ////////// I n l a n d E m p i r e //////////// Market Report

More information

The Corcoran Report 3Q17 MANHATTAN

The Corcoran Report 3Q17 MANHATTAN The Corcoran Report 3Q17 MANHATTAN Contents Third Quarter 2017 4/7 12/23 3 Overview 8 9 10 Market Wide 11 Luxury 24 4 Sales / Days on Market 5 Inventory / Months of Supply 6 7 Market Share Resale Co-ops

More information

Bakersfield 4Q18 Office Market Trends

Bakersfield 4Q18 Office Market Trends Bakersfield the higher cost of leasing in the submarket is unlikely to hinder demand as CRC s lease expirations create more available inventory within the University Centre Submarket. Mark J. Smith, SIOR

More information

WINTER 2016 OMAHA, NEBRASKA INDUSTRIAL MARKET REPORT

WINTER 2016 OMAHA, NEBRASKA INDUSTRIAL MARKET REPORT WINTER 2016 OMAHA, NEBRASKA INDUSTRIAL MARKET REPORT By Kevin Stratman OMAHA S THRIVING INDUSTRIAL MARKET SHOWS NO SIGNS OF SLOWING DOWN It is difficult to find one aspect of the Omaha industrial market

More information

HOUSTON INDUSTRIAL MARKET

HOUSTON INDUSTRIAL MARKET REAL ESTATE OUTLOOK HOUSTON INDUSTRIAL MARKET FIRST QUARTER 217 Industrial Sector Continues Push Forward Flex Market Softening under Pressure from Office Market Availability OV E R V I E W Industrial gains

More information

Denver s Retail Sector Keeps Rolling 500, , , , , , , , ,000 50,000. Square Feet

Denver s Retail Sector Keeps Rolling 500, , , , , , , , ,000 50,000. Square Feet Research & Forecast Report METRO DENVER RETAIL Q4 2017 s Retail Sector Keeps Rolling Market Overview Net absorption finished the second half of 2017 with strong positive numbers from s Central and Northwest

More information

Housing Market Update

Housing Market Update Housing Market Update March 2017 New Hampshire s Housing Market and Challenges Market Overview Dean J. Christon Executive Director, New Hampshire Housing Finance Authority New Hampshire s current housing

More information

Soft Land Market in 2017

Soft Land Market in 2017 Research & Forecast Report LAND Q4 217 Soft Land Market in 217 > > Land sales in 217 fell behind 216 > > A lack of large sales at Apex brought the average price per square foot up > > Strong development

More information

Rents continue to decline while available space stabilizes

Rents continue to decline while available space stabilizes Manhattan Retail, Q3 2017 Rents continue to decline while available space stabilizes 119.8 *Arrows indicate change from previous quarter. 4.9% $34.5B 340.1K Sources: The Conference Board, September 2017;

More information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS PHOENIX, ARIZONA INDUSTRIAL THIRD QUARTER 217 QUICK STATS Direct Vacancy 8.7% Overall Vacancy 9.% Lease Rate NNN $.54 Gross Absorption Under Construction MARKET TRENDS Current Quarter 5,991,128 SF 4,751,494

More information

Houston office market Sublease and activity overview

Houston office market Sublease and activity overview Houston office market Sublease and activity overview July, 2016 What you need to know about the current state of the Houston office sublease market 1. 2. 3. 11.7 million square feet of sublease space now

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE INDIANAPOLIS OFFICE Economic Indicators Market Indicators (Direct, All Classes) Direct Net Absorption/Direct Asking Rent 4-QTR TRAILING AVERAGE Direct Vacancy Q3 17 Q3 18 MSA Employment 1.05M 1.07M MSA

More information

San Antonio 4th Quarter 2014 INDUSTRIAL. Market Trends COMMERCIAL REAL ESTATE INFORMATION

San Antonio 4th Quarter 2014 INDUSTRIAL. Market Trends COMMERCIAL REAL ESTATE INFORMATION San Antonio 4th Quarter 2014 INDUSTRIAL Market Trends COMMERCIAL REAL ESTATE INFORMATION Table of Contents/Methodology of Tracked Set Table of Contents/Methodology of Tracked Set 2 San Antonio Market Map

More information

INVESTMENT. Acknowledgements MARKET SURVEY. Author HAMPTON ROADS

INVESTMENT. Acknowledgements MARKET SURVEY. Author HAMPTON ROADS INVESTMENT 2007 HAMPTON ROADS MARKET SURVEY Acknowledgements Author Jonathan Guion, SIOR Managing Director Sperry Van Ness Commercial Real Estate Advisors 2007 INVESTMENT General Overview This report analyzes

More information

Fertile Ground for Canada s Marijuana Industry

Fertile Ground for Canada s Marijuana Industry Canadian CRE Fertile Ground for Canada s Marijuana Industry Page 1 While the United States is grappling with the complexities of marijuana legislation and sales across some states, the marijuana wave is

More information

Stronger Office Market Looking Into Future

Stronger Office Market Looking Into Future Research & Forecast Report Long Island OFFICE MARKET Q2 2015 Stronger Office Market Looking Into Future Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Long Island economic and

More information

Charleston. Retail Continues to Thrive. First Quarter 2018 Retail

Charleston. Retail Continues to Thrive. First Quarter 2018 Retail Retail Continues to Thrive Internet sales continue to have an effect on brick and mortar locations causing retailers to close non-performing locations, downsize or be sold. In other cases, retailers are

More information

Demand for smaller, more secondary assets on the rise amid the recent scarcity of large warehouse space

Demand for smaller, more secondary assets on the rise amid the recent scarcity of large warehouse space MARKETVIEW Toronto Industrial, Q3 2015 Demand for smaller, more secondary assets on the rise amid the recent scarcity of large warehouse space New Supply 3.0 million sq. ft. Under Construction 8.7 million

More information

Economy. Denmark Market Report Q Weak economic growth. Annual real GDP growth

Economy. Denmark Market Report Q Weak economic growth. Annual real GDP growth Denmark Market Report Q 1 Economy Weak economic growth In 13, the economic growth in Denmark ended with a modest growth of. % after a weak fourth quarter with a decrease in the activity. So Denmark is

More information

The past year is better described as a year of

The past year is better described as a year of Omaha Office Market Report Omaha, Nebraska / January 2018 Omaha Office Market Conditions and Trends 2017 Office Market Underperforms Omaha s office market enjoyed a number of significant transactions in

More information

MARKET REPORT FIRST QUARTER Positive Absorption and Weak Leasing the Story of the First Quarter Q SUBURBAN MARYLAND OFFICE MARKET SUMMARY

MARKET REPORT FIRST QUARTER Positive Absorption and Weak Leasing the Story of the First Quarter Q SUBURBAN MARYLAND OFFICE MARKET SUMMARY Q1 2015 SUBURBAN MARYLAND OFFICE SUBURBAN MARKET REPORT MARYLAND Q1 2015 OFFICE SUBURBAN MARYLAND OFFICE MARKET REPORT FIRST QUARTER 2015 Positive Absorption and Weak Leasing the Story of the First Quarter

More information

HOUSING MARKET OUTLOOK Vancouver and Abbotsford CMAs

HOUSING MARKET OUTLOOK Vancouver and Abbotsford CMAs Housing Market Information HOUSING MARKET OUTLOOK Vancouver and Abbotsford CMAs Date Released: Fall 2010 Vancouver Highlights MLS 1 sales will remain stable until mid-2011, due to steady population growth

More information

Speculative construction and record breaking investment sales lead the way in Q2 2015

Speculative construction and record breaking investment sales lead the way in Q2 2015 MARKETVIEW Boston Downtown Office, Q2 2015 Speculative construction and record breaking investment sales lead the way in Q2 2015 Vacancy 7.5% Availability 13.9% Absorption 424,525 SF Sublease 0.75% Under

More information

Seattle Housing Market Overview January 2019

Seattle Housing Market Overview January 2019 Seattle Housing Market Overview January 2019 A review of recent trends and thoughts about the future of the Seattle housing market. Bill King President, Chief Valuation Officer Real Info, Inc. City of

More information

SE corner of Locust Street and Loop 288, Denton, Texas

SE corner of Locust Street and Loop 288, Denton, Texas 1400 DALLAS DRIVE, DENTON, TX. 76205 Telephone (940) 484-9000; Fax (940) 380-9000 SE corner of Locust Street and Loop 288, Denton, Texas Map of location What type of retail is best suited for this location?

More information

3 RD QUARTER 2016 RICHMOND INDUSTRIAL MARKET REPORT

3 RD QUARTER 2016 RICHMOND INDUSTRIAL MARKET REPORT 3 RD QUARTER 2016 RICHMOND INDUSTRIAL MARKET REPORT FORECAST The Richmond Industrial market continued trending in the positive direction in the third quarter, with the absorption of over 320,000 square

More information

Office Market Analysis City of Chicago. According to Costar Property, the City of Chicago office market is distributed as follows:

Office Market Analysis City of Chicago. According to Costar Property, the City of Chicago office market is distributed as follows: Office Market Analysis City of Chicago Market Composition & Distribution According to Costar Property, the City of Chicago office market is distributed as follows: Office Submarket Distribution - City

More information

Residential Commentary Sydney Apartment Market

Residential Commentary Sydney Apartment Market Residential Commentary Sydney Apartment Market April 2017 Executive Summary Sydney Apartment Market: Key Indicators 14,200 units are currently under construction in Inner Sydney with completion expected

More information

HOUSING MARKET OUTLOOK

HOUSING MARKET OUTLOOK HOUSING MARKET INFORMATION HOUSING MARKET OUTLOOK Ottawa 1 C A N A D A M O R T G A G E A N D H O U S I N G C O R P O R A T I O N Date Released: Fall 2017 Figure 1 10,000 8,000 6,000 4,000 2,000 0 Ottawa

More information

CAMBRIDGE OFFICE & LAB MARKET REPORT

CAMBRIDGE OFFICE & LAB MARKET REPORT CAMBRIDGE OFFICE & LAB MARKET REPORT FOURTH QUARTER 2017 GLOBAL OFFICE AND LAB DESTINATION As Greater Boston s gateway market, Cambridge is a hub for intellectual capital, innovative minds and technological

More information

Picked Over. ALBUQUERQUE, NM Q Industrial. Research & Forecast Report. Key Takeaways. Market Indicators Relative to prior period

Picked Over. ALBUQUERQUE, NM Q Industrial. Research & Forecast Report. Key Takeaways. Market Indicators Relative to prior period Research & Forecast Report ALBUQUERQUE, NM Q4 20 Industrial Picked Over Key Takeaways > > Owner user acquisitions strong > > Supply tightens > > New construction projects gaining more momentum The appetite

More information

CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP

CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP SECOND QUARTER NEWSLETTER 216 HOT TOPICS Capital markets remain a focus with 14 assets either under contract or sold totaling $2.6 billion, which includes

More information

Nothing Draws a Crowd Like a Crowd: The Outlook for Home Sales

Nothing Draws a Crowd Like a Crowd: The Outlook for Home Sales APRIL 2018 Nothing Draws a Crowd Like a Crowd: The Outlook for Home Sales The U.S. economy posted strong growth with fourth quarter 2017 Real Gross Domestic Product (real GDP) growth revised upwards to

More information

KEY TOWER SALE highlights start of 2017

KEY TOWER SALE highlights start of 2017 KEY TOWER SALE highlights start of 2017 Demand for office space in the Greater Cleveland office market remained strong as 2016 wound down and transitioned into the first quarter of 2017. After netting

More information

HOULIHAN LAWRENCE COMMERCIAL GROUP

HOULIHAN LAWRENCE COMMERCIAL GROUP HOULIHAN LAWRENCE COMMERCIAL GROUP TH QUARTER EXECUTIVE SUMMARY FOURTH QUARTER Dear Clients, With behind us and the new year in full swing, we can now reflect, summarize and gain insight from the past

More information

Market Report Q Colliers Bennett & Kahnweiler Inc. Chicago. Quarterly Market Trends. Suburban Office Overview

Market Report Q Colliers Bennett & Kahnweiler Inc. Chicago. Quarterly Market Trends. Suburban Office Overview Overall, the suburban office market continues to be defined by the strength of industry sectors residing in each submarket. Quarterly Market Trends Suburban Office Overview December 24 The suburban office

More information

Miami-Dade County Retail Market Report 3Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Retail Market Report

Miami-Dade County Retail Market Report 3Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Retail Market Report Miami-Dade County Retail Market Report 3Q 216 Real Capital Partners Real Estate Services *Data Source CoStar Miami-Dade County Retail Market Report 3Q 216 Miami-Dade County Retail Market Report Overview

More information

Cairo Real Estate Market Overview Q Cairo

Cairo Real Estate Market Overview Q Cairo Cairo Real Estate Market Overview Q3 2017 Cairo Cairo Market Summary Investor confidence restored The Cairo real estate market has started to stabilise following a period of volatility due to the devaluation

More information

For the Reno MSA employment has historically been based largely on construction and the leisure and hospitality industry. The construction industry

For the Reno MSA employment has historically been based largely on construction and the leisure and hospitality industry. The construction industry For the Reno MSA employment has historically been based largely on construction and the leisure and hospitality industry. The construction industry has lost almost 15,000 construction jobs since 2006,

More information

Las Vegas Valley Executive Summary

Las Vegas Valley Executive Summary Las Vegas Valley Executive Summary Commercial Real Estate Markets - 2 nd Quarter 214 INDUSTRIAL OFFICE RETAIL RCG Economics 39 Paradise Road Las Vegas, NV 89169 T: (72) 967-3188 F: (72) 967-3196 W: www.rcg1.com

More information

Homestretch: Office Market Set to Finish Strong

Homestretch: Office Market Set to Finish Strong Research & Forecast Report RENO OFFICE Q3 2016 Homestretch: Office Market Set to Finish Strong >> Vacancy drops significantly the largest drop quarter over quarter in 2016 >> Rental rates are not increasing

More information

Nashville the #5 Market to Watch in 2019

Nashville the #5 Market to Watch in 2019 Research & Forecast Report NASHVILLE INDUSTRIAL 4 th Quarter Nashville the #5 Market to Watch in 2019 Industrial Market The industrial real estate sector is currently undergoing one of the greatest expansionary

More information

Slow start for Denver s Retail Sector 500, , , , , , , , ,000 50,000. Square Feet

Slow start for Denver s Retail Sector 500, , , , , , , , ,000 50,000. Square Feet Research & Forecast Report METRO DENVER RETAIL Q1 2018 Slow start for Denver s Retail Sector Market Overview After recording net absorption of more than 546,000 square feet during the previous quarter,

More information

Strong Absorption Drives Down Vacancy to Start 2017

Strong Absorption Drives Down Vacancy to Start 2017 Research & Forecast Report GREATER PHOENIX INDUSTRIAL 2017 Strong Absorption Drives Down to Start 2017 Key Takeaways >> Industrial vacancy in Greater Phoenix dipped below 10 percent in the first quarter,

More information

DISTRICT OF COLUMBIA IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy. Leasing Activity. Development Pipeline.

DISTRICT OF COLUMBIA IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy. Leasing Activity. Development Pipeline. RESEARCH MARKET REPORT DISTRICT OF COLUMBIA OFFICE IN THIS ISSUE State of the Economy p.2 Leasing Activity p.3 Development Pipeline p.4 Market Outlook p.5 Market Breakdown p.6 DC Development: No Signs

More information

Q Cape Town Office Market Report. In association with Baker Street Properties

Q Cape Town Office Market Report. In association with Baker Street Properties Cape Town Office Market Report 217 set for rental growth as economy improves, but the city continues to struggle to cater to large occupiers Q4 216 In association with Baker Street Properties 1 Central

More information

RETAIL MARKET ANALYSIS

RETAIL MARKET ANALYSIS RETAIL MARKET ANALYSIS GEOFF FALKENBERG Oregon Association of Realtors Fellow Vacancy and rent remained mostly flat over the third quarter, leaving many market gazers pondering if the market has temporarily

More information

>> Greater Los Angeles Retail Continues to Witness Declining Vacancy

>> Greater Los Angeles Retail Continues to Witness Declining Vacancy Research & Forecast Report GREATER LOS ANGELES RETAIL Accelerating success. >> Greater Los Angeles Retail Continues to Witness Declining Vacancy Greater Los Angeles Retail Market The Los Angeles Basin

More information

FOURTH QUARTER 2013 MARIN COUNTY OFFICE SPACE

FOURTH QUARTER 2013 MARIN COUNTY OFFICE SPACE FOURTH QUARTER 2013 MARIN COUNTY OFFICE SPACE MARIN OFFICE SANTA ROSA OFFICE 1101 Fifth Avenue, Suite 230 San, CA 94901 2455 Bennett Valley Road, C200, Santa Rosa, CA 95404 Tel: 415.526.7676 Fax 415.526.7679

More information

Manhattan Rental Market Report Year End 2010

Manhattan Rental Market Report Year End 2010 Manhattan Rental Market Report Year End 2010 Table of Contents Introduction 3 A Quick Look 4 Mean Manhattan Rental Prices 5 Notable Trends 7 Manhattan Price Trends 7 Neighborhood Price Trends Upper West

More information

NAI FMA Realty Market Report First Half 2010 Lincoln, Nebraska

NAI FMA Realty Market Report First Half 2010 Lincoln, Nebraska Lincoln, Nebraska First Half 2010 1248 O Street, Suite 550 Lincoln, NE 68508 402.441.5800 www.naifmarealty.com Office TRENDS Vacancy Rate Asking Rents OFFICE OVERVIEW In Lincoln, the office sector continues

More information

CITI HABITATS. Manhattan Residential Sales Market Report

CITI HABITATS. Manhattan Residential Sales Market Report Manhattan Residential Sales Market Report Contents 4/7 12/17 3 8 9 10 Market Wide 4 Sales / Days on Market 5 / Months of Supply 6 7 Market Share Resale Co-ops Resale Condos New Developments 11 Luxury Neighborhoods

More information

>> Market Records Strong Demand To End 2016

>> Market Records Strong Demand To End 2016 Research & Forecast Report Central Los Angeles OFFICE Q4 216 Accelerating success. >> Market Records Strong Demand To End 216 Key Takeaways > There is currently 61,4 square feet () of office product under

More information

Housing Characteristics

Housing Characteristics CHAPTER 7 HOUSING The housing component of the comprehensive plan is intended to provide an analysis of housing conditions and need. This component contains a discussion of McCall s 1990 housing inventory

More information

OFFICE MARKET ANALYSIS

OFFICE MARKET ANALYSIS OFFICE MARKET ANALYSIS KYLE BROWN RMLS Fellow, Master of Real Estate Development Candidate Amid some encouraging signs nationally, the Portland office market has maintained its stability, with the CBD

More information

Construction Investment Cools In Lead Up To General Election

Construction Investment Cools In Lead Up To General Election Phnom Penh, Q2 218 Construction Investment Cools In Lead Up To General Election Average High-end Condominium Price $3,211/SQM Prime Condominium Rent $14.3/SQM Prime Office Rent $25.5/SQM Prime Retail Mall

More information

Soaring Demand Drives US Industrial Market to New Heights

Soaring Demand Drives US Industrial Market to New Heights Soaring Demand Drives US Industrial Market to New Heights Capitas (DIFC) Limited I June Issue: 2017 THIS ISSUE COVERS: The Amazon Factor a seismic shift in the way people shop Industrial real estate hitting

More information

Residential December 2009

Residential December 2009 Residential December 2009 Karl L. Guntermann Fred E. Taylor Professor of Real Estate Adam Nowak Research Associate Year End Review The dramatic decline in Phoenix house prices caused by an unprecedented

More information

Westgate Center. Southwest Corner of Division Street & 25th Avenue South St. Cloud, Minnesota

Westgate Center. Southwest Corner of Division Street & 25th Avenue South St. Cloud, Minnesota Westgate Center Southwest Corner of Division Street & 25th Avenue South St. Cloud, Minnesota For further information contact owner s exclusive representatives. Joe Girardi 630.954.7392 j.girardi@midamericagrp.com

More information

Mueller. Real Estate Market Cycle Monitor Second Quarter 2018 Analysis

Mueller. Real Estate Market Cycle Monitor Second Quarter 2018 Analysis Mueller Real Estate Market Cycle Monitor Second Quarter 2018 Analysis Real Estate Market Cycle analysis of 5 property types in 54 Metropolitan Statistical Areas (MSAs). Graphic Clarification! Point 11

More information

DENVER. Office Research Report. First Quarter Partnership. Performance.

DENVER. Office Research Report. First Quarter Partnership. Performance. DENVER Office Research Report First Quarter 2018 Denver Market Facts 61,614 Jobs added in the last 12 months ending in February, a 4.1% increase in employment. 3.1% Unemployment in Denver, lower than the

More information

WAREHOUSE MARKET REPORT

WAREHOUSE MARKET REPORT H1 2017 WAREHOUSE MARKET REPORT HIGHLIGHTS The total warehouse stock delivered in H1 2017 fell by one half to 135,500 sq m year on year. The Q2 vacancy rate came up to 11.7% about 1.5 million sq m in absolute

More information

Strong Marketwide Leasing Activity Points To A Strong Finish for Tri-Cities

Strong Marketwide Leasing Activity Points To A Strong Finish for Tri-Cities OFFICE TRI-CITIES MARKET REPORT Strong Marketwide Leasing Activity Points To A Strong Finish for Tri-Cities MARKET OVERVIEW MARKET INDICATORS - VACANCY 14.9% NET ABSORPTION 254,6 CONSTRUCTION 113,8 RENTAL

More information

Charleston. Retail Is Still Thriving. Fourth Quarter 2018 Retail

Charleston. Retail Is Still Thriving. Fourth Quarter 2018 Retail Retail Is Still Thriving The region s vacancy rate crept up slightly from the previous quarter, while the availability rate dropped marginally. Asking NNN rental rates dropped over $1.50 per square foot

More information